Greenville's Datastream Systems board rejects MRO Software offer

GREENVILLE, S.C. - Datastream Systems Inc.&#39;s board rejected MRO Software Inc.&#39;s $6-a-share hostile takeover bid, and said it expects to exceed consensus fourth-quarter earnings and total revenue estimates. <br> <br> The company said fourth-quarter license revenue should also exceed consensus estimates by at least 25 percent. <br> <br> Datastream on Tuesday called MRO&#39;s offer &#34;inadequate,&#34; saying it doesn&#39;t reflect the true value of Datastream. <br> <br> Last month, MRO offered to acquire the maker of computerized maintenance management software for $6 a share, consisting of $1 in cash and $5 in shares. <br> <br> Datastream Systems lost 9 cents a share on revenue of $24.7 million for the fourth quarter ended Dec. 31, 2000. Excluding amortization, the company lost 5 cents a share for the period. <br> <br> A Thomson Financial/First Call survey of three analysts produced a mean 2001 fourth-quarter loss estimate of 4 cents a share for Datastream. <br> <br> Datastream will report financial results for the latest quarter Feb. 5. <br> <br> Datastream Systems shares closed at $6.23, down 4 cents, or 0.6 percent on the Nasdaq Stock Market. In the past 12 months, the Greenville, S.C. company lost $16.51 million on revenue of $92.41 million. <br> <br> MRO Software shares finished Tuesday at $23.97, down 4 cents, or 0.2 percent. In the past 12 months, the Bedford, Mass., software company lost $15.47 million on revenue of $185.45 million<br>

http://accesswdun.com/article/2002/1/200488